What Is a Buyer Agreement? A buyer agreement is a written document between you and your real estate professional. It outlines the services they’ll provide, the type of relationship you’ll have, and how they’ll be compensated. As of August 2024, written buyer agreements are required nationwide for Realtors® before they can show homes to clients.
It’s not about making things complicated—it’s about setting expectations upfront.
Why It Matters
Written buyer agreements give you control over your transaction, clarity in the process, and a shared purpose with your agent. Buying a home is more than a transaction—it’s about building the life you envision. With the right information and support, you’re not just a buyer; you’re an empowered decision-maker.
Open Houses - Do You Need a Buyer Agreement?
Picture this, you’re exploring an open house in Delray Beach or a waterfront property in Fort Lauderdale. Do you need to sign anything to walk through the door? The answer is no. You don't need a buyer agreement if you’re visiting an open house without an agent. The agent hosting the open house can provide information about the house and isn’t required to lock you into an agreement. It’s a low-pressure way to explore homes and get a feel for the market.
A Few Key Points to Remember
-
No Out-of-Pocket Surprises: Many agreements allow for negotiating compensation with the seller’s agent, so you might not pay directly.
-
Open Houses Are Still Open: Browsing open houses without commitment is still a thing.
-
Empower Yourself: Written agreements are a tool to protect your interests.
FAQs for South Florida Homebuyers
-
Do I Have to Pay My Agent Directly? Not necessarily. In many cases, the seller or their agent may cover your agent’s fees, this should be clearly stated in your agreement.
-
Can I Exit an Agreement? Yes, conditions vary. Discuss this with your agent before signing.
-
Are Buyer Agreements Negotiable? Absolutely! From services to compensation, you’re in control.
Got Questions? ASK!
Michelle Avila and Julli Ramirez Realty Home Advisors
Phone: (561) 859-8483
Become a Homeowner with our assistance program!
